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What is the relevance of calculating standard deviation?
The Standard Deviation will give you an idea of how 'spread apart' the data is. Suppose the average gasoline prices in your town are 2.75 per gallon. A low standard deviation means many of the gas stations will have prices close to that price, while a high standard deviation means you would find prices much higher and also much lower than that average price.
What does the sample standard deviation best estimate?
The standard deviation of the population. the standard deviation of the population.
What is standard deviation of 155.45?
The standard deviation is 0.
What is the standard deviation of a standard normal distribution?
The standard deviation in a standard normal distribution is 1.
Application of standard deviation in business?
Standard deviation helps business understand the research they have done on their potential customers. If the information deviates by one, then they know that they can rely on the information more so than research that deviates to standards deviations away from the mean.
